UPDATE: Bank of America Upgrades Informatica Corporation to Neutral, Reiterates $37 PT on Multiple Positive Factors

In a report published Monday, Bank of America analyst Kash Rangan upgraded the rating on

from Underperform to Neutral, and reiterated the $37.00 price target. In the report, Bank of America noted, “Informatica is a leader in data integration software suiting up to be a platform in a market characterized by point solutions and limited integration. It is differentiated from competitors because of its perceived independence. Version 9 (a significant product cycle) alongside INFA's expanded market opportunity could drive revenue and earnings growth faster than prior cycles. Moreover, given its leading position, INFA could be a strategic asset for larger participants.” Informatica Corporation closed on Friday at $35.91.